Associated Builders and Contractors (ABC) recently released a Construction Backlog Indicator (CBI), a forward-looking measurement reflecting the amount of work to be performed by contractors in the months ahead.
The report is a key economic indicator as it offers a specific report on US commercial, institutional, industrial and infrastructure construction industries. The most recent report shows the nation's nonresidential construction industry rebounded in May to 6.3 months of backlog, up from 6.2 months in April, but still down by roughly 24 days since November 2008.
Keep an eye on this report as it will be a true indicator of when this economic downturn is ending.
